For starters, the AP begins with the mistaken premise that most states collect revenue based on the amount of gas produced, and if Pennsylvania copied this approach, the vast amount of gas produced would translate into even higher revenues for state and local governments. One problem, though, the AP failed to cite a single state that actually assesses taxes based on production. Rather, they raise revenue based on the value of the gas sold. That’s a big difference, considering that prices plummeted in 2012 due to surpluses of natural gas.

Contrast this to Pennsylvania’s innovative approach, which collects an impact fee designed to compensate local governments for costs associated with shale development. In just the first two rounds of collections, local governments are benefitting from the more than $406 million in impact fees paid. This consistent revenue stream, enacted by Gov. Tom Corbett and forward-thinking legislators in the General Assembly, is going directly to county and municipal governments all across the commonwealth.

So what does 2 trillion cubic feet of natural gas mean then? It means job security, for the nearly 250,000 Pennsylvanians working in the oil and gas industries. It means job opportunities, for the tens of thousands of other indirect and induced jobs. It means a commonwealth that has gone from importing 75 percent of its gas just six years ago to one that is now a net exporter. It means lower gas and electricity prices, saving nearly $1,000 a year for every Pennsylvania homeowner.